CFO Daryl J. Binny Bansal, co-founder Flipkart. Mr. Murto, Joseph R. Canion and James Harris left Texas Instruments Inc. five years ago to found Compaq and have seen it grow into a leading personal computer company with 1986 sales of $625. Hobbit Memes Clean, By 1990, Compaq Europe was a $2 billion business and number two behind IBM in that region, and foreign sales contributed 54 percent of Compaq's revenues. [62], Compaq entered 1999 with strong expectations. [11][41] It was also believed[by whom?] . Binny Bansal has had a pretty spectacular year in April, he helmed India's biggest startup acquisition, when Flipkart was acquired by Walmart at a valuation of $21 billion. Rose had joined Compaq in 1993 from Digital Equipment Corporation where he oversaw the personal computer division and worldwide engineering, while Stimac had been with Compaq since 1982 and was one of the longest-serving executives. [42], Roger Kay, an analyst at International Data Corporation, observed that Compaq's behavior at times seemed like a personal vendetta, noting that "Eckhard has been so obsessed with staying ahead of Dell that they focused too hard on market share and stopped paying attention to profitability and liquidity. In 1997, Compaq bought Tandem Computers, known for their NonStop server line. [42][58][59][65] Rosen suggested that the accelerating change brought about by the Internet had overtaken Compaq's management team, saying "As a company engaged in transforming its industry for the Internet era, we must have the organizational flexibility necessary to move at Internet speed." Continuing its expansion into networking, Compaq Computer yesterday agreed to pay about. which was purchased by Compaq in 1999 for $307 million, and X . Digimon World Ds Farm Guide, The Barge Menu Saugatuck, In 1999, when president and chief executive officer (CEO) Eckhard Pfeiffer was forced to resign after a boardroom coup led by chairman Benjamin M. Rosen, Rosen took on the capacity of interim CEO while Capellas was elevated to COO. Several senior executives from the Compaq side including Jeff Clarke and Peter Blackmore would resign or be ousted from the post-merger HP. The merger made Compaq, at the time, the world's second largest computer maker in the world in terms of revenue behind IBM. [80] Rose was succeeded by SVP Enrico Pesatori, who had previously worked as a senior executive at Olivetti, Zenith Data Systems, Digital Equipment Corp. and Tandem Computers. Jim Ratcliffe, 70, was born in Failsworth in Greater Manchester. Hewlett-Packard will acquire Compaq Computer in a stock swap worth about $25 billion, the companies announced late Monday. Gutsch was said to be a "master of corporate politics, pitting senior vice presidents against each other and inserting himself into parts of the company that normally would not be under his purview". From Dropout to 7-Figure Net Worth: The Inspiring Journey of Steven Cohen, Co-Founder of Sunder Energy. Prior to developing EISA Compaq had invested significant resources into reverse engineering MCA, but its executives correctly calculated that the $80 billion already spent by corporations on IBM-compatible technology would make it difficult for even IBM to force manufacturers to adopt the new MCA design. Michael Winkler, who joined Compaq in 1995 to run its portable computer division, was promoted to general manager of the new PC products group. HP had agreed to pay Deutsche Bank $1 million guaranteed, and another $1 million contingent upon approval of the merger. In January 1998, Compaq was at its height. [4] Struggling to keep up in the price wars against Dell, as well as with a risky acquisition of DEC,[5] Compaq was acquired for US$25 billion by HP in 2002. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. While IBM and HP were able generate repeat business from corporate customers to drive sales of their different divisions, Compaq had not yet managed to make its newly acquired sales and services organizations work as seamlessly. [90] While supporters of the merger argued that there would be economies of scale and that the sales of PCs would drive sales of printers and cameras, Walter Hewlett was convinced that PCs were a low-margin but risky business that would not contribute and would likely dilute the old HP's traditionally profitable Imaging and Printing division. [citation needed]. [114] Hewlett Packard Buildings #7 & #8, two eight-story reinforced concrete buildings totaling 450,000 square feet, plus a 1,200-car parking garage and a central chiller plant, were all deemed by the college to be too robust and costly to maintain, and so they were demolished by implosion on September 18, 2011.[131][132][133][134]. Keiren Westwood Wife, The three of them had left due to lack of faith and loss of confidence in TI's management, and initially considered but ultimately decided against starting a chain of Mexican restaurants. Before its merger with HP, Compaq sponsored the Williams Formula One team when it was still powered by BMW engines. [89] The companies would dole out a combined $634.5 million in bonuses to prevent key employees from leaving if shareholders approve the proposed merger, with $370.1 million for HP employees and $264.4 million for Compaq employees. Slippery Fish Piano Notes, Startups are fast-paced, always working on new initiatives. [97] Carly Fiorina, initially seen as HP's savior when she was hired as CEO back in 1999, had seen the company's stock price drop to less than half since she assumed the position, and her job was said to be on shaky ground before the merger announcement. For this question we spent 25 hours on research (Wikipedia, Youtube, we read books in libraries, etc) to review the post. CARLSBAD, Calif.--Ever wonder where Compaq founder Rod Canion is? He made his debut on the 2012 Forbes Billionaires List with a net worth of $2 billion, and more than a decade later that figure has multiplied, several times . Compaq's pre-merger ticker symbol was CPQ. Mixed Alphabet Cipher, Pfeiffer also made several major and some minor acquisitions. [11][12] Each invested $1,000 to form the company, which was founded with the temporary name Gateway Technology. That year Compaq forecast demand poorly and overshipped too many PCs, causing resellers to dump them at fire sale prices, and since Compaq protected resellers from heavy losses it cost them two quarters of operating profits. The company launched Compaq.com as the key for its new direct sales strategy, and planned an IPO for AltaVista toward the end of 1999 in order to capitalize on the dotcom bubble. It's hard for co-founders to make time for conversation. At semi-annual meetings, turnout was high as any employee could ask questions to senior managers. Eckhard Pfeiffer, then president of Compaq International, was named to succeed him. We've considered it, and every time we consider it we reject it. [94] Carly Fiorina, initially seen as HP's savior when she was hired as CEO back in 1999, had seen the company's stock price drop to less than half since she assumed the position, and her job was said to be on shaky ground before the merger announcement. 3 of 6 4 of 6 The PIE shop: Compaq traces its origin to a place mat in this Houston pie shop in 1982. [11][15] As it grew, Compaq became so important to Houston that it negotiated the expansion of Highway 249 in the late 1980s, and many other technology companies appeared in what became known as the "249 Corridor". [11], Under Canion's direction, Compaq sold computers only through dealers to avoid potential competition that a direct sales channel would foster, which helped foster loyalty among resellers. 2 min read. [51] In 1997 Microcom was also acquired, based in Norwood, MA, which brought a line of modems, Remote Access Servers (RAS) and the popular Carbon Copy software. Message Pour Une Personne Inspirante, - Free Online Library", "The Coming Local HP Implosion Swamplot: Houston's Real Estate Landscape", "Hewlett Packard Buildings #7 & #8 - Controlled Demolition, Inc", "COMPAQ: Building implosion, HP and Apple", HP-Compaq merger (washingtontechnology.com), https://en.wikipedia.org/w/index.php?title=Compaq&oldid=986029932, Computer companies disestablished in 2002, Defunct computer companies of the United States, Articles containing potentially dated statements from 2017, All articles containing potentially dated statements, Articles with dead external links from May 2017, Articles with permanently dead external links, Articles with unsourced statements from February 2019, Articles with specifically marked weasel-worded phrases from March 2014, Wikipedia articles needing clarification from May 2012, Articles lacking reliable references from August 2015, Articles containing potentially dated statements from January 2013, Creative Commons Attribution-ShareAlike License, This page was last edited on 29 October 2020, at 11:14. By November 3, 2020 No Comments. By giving dealers considerable leeway in pricing Compaq's offerings, either a significant markup for more profits or discount for more sales, dealers had a major incentive to advertise Compaq. [93] While Compaq shareholders unanimously approved the deal, there was a public proxy battle within HP as the deal was strongly opposed by numerous large HP shareholders, including the sons of the company founders, Walter Hewlett and David W. Packard, as well as the California Public Employees Retirement System (CalPERS) and the Ontario Teachers' Pension Plan. Eckhard Pfeiffer (born August 20, 1941, in Lauban, Germany [now Lubla, Poland ]) is a businessman of German ancestry, who served as president and CEO of Compaq from 1991 to 1999. 7,100 crore. He has a net worth of $3 billion. [67] Despite falling to No. [36], Compaq had been producing the PC chassis at its plant in Shenzhen, China to cut costs. These departures were motivated by an enhanced severance or early retirement, as well as an imminent demotion as their functions were to be shifted to vice presidents. for the 199495 and 199596 seasons. Why should you be constrained to use the software that comes with a piece of hardware? InfoWorld reported that "In the [ISA market] Compaq is already IBM's equal in being seen as a safe bet", quoting a sell-side analyst describing it as "now the safe choice in personal computers". [35], Pfeiffer had joined Compaq from Texas Instruments, and established operations from scratch in both Europe and Asia. However, Capellas was reported not to be happy with his role, being said not to be utilized and being unlikely to become CEO as the board supported Fiorina. At the time of their 2002 merger, Compaq and HP were the second and third largest PC manufacturers, so their combination made them number one. [11], Rosen and Canion had disagreed about how to counter the cheaper Asian PC imports, as Canion wanted Compaq to build lower cost PCs with components developed in-house in order to preserve Compaq's reputation for engineering and quality, while Rosen believed that Compaq needed to buy standard components from suppliers and reach the market faster. There would be a termination fee of US$675 million that either company would have to pay the other to break the merger. It was projected to have $2.5 billion in annual cost savings by mid-2004. Mat Best, the co-founder of the Black Rifle Coffee Company, is a former Army Ranger and CIA contractor. [14][15] By 1991, Compaq held the fifth place spot in the PC market with $3 billion in sales that year. For nine years the company had lost money or barely broke even, and had recently refocused itself as a "network solutions company". In September 2020, Forbes assessed Milton's net worth to be at least $3.2 billion, as he owned about 25% of the company, which was valued at about $12.4 billion. During November 1999, Compaq began to work with Microsoft to create the first in a line of small-scale, web-based computer systems called MSN Companions. [31], During the 1980s, under Canion's direction Compaq had focused on engineering, research, and quality control, producing high-end, high-performance machines with high profit margins that allowed Compaq to continue investing in engineering and next-generation technology. [36], Rosen initiated a 14-hour board meeting, and the directors also interviewed Pfeiffer for several hours without informing Canion. Compaq is sitting down at the typewriter". [126][127], Instead of headquartering the company in a downtown Houston skyscraper, then-CEO Rod Canion chose a West Coast-style campus surrounded by forests, where every employee had similar offices and no-one (not even the CEO) had a reserved parking spot. In 2015, the Argentine company Grupo Newsan acquired the brand's license, alongside with a $3 million investment, and developed two new lines of Presario notebooks for the local market over the course of the year. While Canion developed an 18-month plan to create a line of low-priced computers, Rosen sent his own Compaq engineering team to Comdex without Canion's knowledge and discovered that a low-priced PC could be made in half the time and at lower cost than Canion's initiative. [29], Michael S. Swavely, president of Compaq's North American division since May 1989, took a six-month sabbatical in January 1991 (which would eventually become retirement effective on July 12, 1991). However, by the end of the eighties many manufacturers had improved their quality and were able to produce inexpensive PCs with off-the-shelf components, incurring none of the R&D costs which allowed them to undercut Compaq's expensive computers. That was the first time people started to get a sense that it wasn't just IBM setting the standards, that this industry had a life of its own, and that companies like Compaq and Intel were in there doing new things that people should pay attention to. Around that same year, Globalk (a Brazilian-based retailer and licensing management firm) started a partnership with HP to re-introduce the brand with a new line of desktop and laptop computers. THE COMPANY RECENTLY HIT A SPEED BUMP--BUT THE FUTURE'S SO BRIGHT THE CEO HAS TO WEAR SHADES", "COMPANY NEWS; Wide Range Of Price Cuts By Compaq", "Compaq Regroups Into 3 Management Units New York Times", "Compaq buys Microcom: Compaq Computer Corp. grabbed for a", "Eckhard's Gone But the PC Rocks On Compaq's CEO blames his ouster on a savagely competitive industry. Long Cut Dip, Cooley would report to Michael S. Swavely, vice president for marketing, who was given increased responsibility and the title of vice president for sales and marketing. [94][95] Walter Hewlett only reluctantly approved the merger, in his duty as a member of the board of directors, since the merger agreement "called for unanimous board approval in order to ensure the best possible shareholder reception". [1] He was named as one of Time 's "Cyber Elite Top 50" for 1998. Murto had helped to organize the company's marketing and authorized-dealer distribution strategy, and held the post of senior vice president of sales since June 1985. I think it can tend to inhibit sales over the long run. [10], Under Canion's direction, Compaq sold computers only through dealers to avoid potential competition that a direct sales channel would foster, which helped foster loyalty among resellers. [11][45], On June 26, 1995, Compaq reached an agreement with Cisco Systems Inc. in order to get into networking, including digital modems, routers, and switches favored by small businesses and corporate departments, which was now a $4 billion business and the fastest-growing part of the computer hardware market. They didn't think it would get done. They didn't think it would get done. The name "COMPAQ" was said to be derived from "Compatibility and Quality" but this explanation was an afterthought. Compaq went public in 1983 on the NYSE and raised $67 million. [125], The Compaq World Headquarters (now HP United States) campus consisted of 80 acres (320,000m2) of land which contained 15 office buildings, 7 manufacturing buildings, a product conference center, an employee cafeteria, mechanical laboratories, warehouses, and chemical handling facilities. As of January 2023, Tom Anderson's net worth is estimated to be $60 Million. Compaq ended up selling the printer business to Xerox and took a charge of $50 million. [11][15], In 1987, company co-founder Bill Murto resigned to study at a religious education program at the University of St. Thomas. The Compaq Portable was the first in the range of the Compaq Portable series. [11] Faced with lower-cost rivals such as Dell Computer, AST Research, and Gateway 2000, Compaq suffered a $71 million loss for that quarter, their first loss as a company, while the stock had dropped by over two-thirds. Robert W. Stearns, SVP of Business Development, said "In [Pfeiffer's] quest for bigness, he lost an understanding of the customer and built what I call empty market share--large but not profitable", while Jim Moore, a technology strategy consultant with GeoPartners Research in Cambridge, Mass., says Pfeiffer "raced to scale without having economies of scale." [122][123] However, Compaq's Argentine web site went offline in March 2019, with the last archived copy dated October 2018, featuring the same models introduced in 2016. Net Worth, Height, Weight, Jack Martin Net Worth | Weight, Height, Age, How Rich is Emi Wada? [citation needed]. Ben Rosen provided the venture capital financing for the fledgling company and served as chairman of the board for 17 years from 1983 until September 28, 2000, when he retired and was succeeded by Michael Capellas, who served as the last chairman and CEO until its merger with HP. Their first venture capital came from Benjamin M. Rosen and Sevin Rosen Funds, who helped the fledgling company secure $1.5 million to produce their initial computer. However, Pfeiffer saw that the prospects of taking on market leader Hewlett Packard (who had 60% market share) was tough, as that would force Compaq to devote more funds and people to that project than originally budgeted. Capellas, Compaq's last chairman and CEO, became president of the post-merger Hewlett-Packard, under chairman and CEO Carly Fiorina, to ease the integration of the two companies. Most of Compaq's competitors except Dell were later acquired by bigger rivals like Acer (Gateway 2000 and Packard Bell) and Lenovo absorbing IBM's PC division. [90] Compaq shareholders would own 36% of the combined company while HP's would have 64%. He's with Questia Media, which wants to bring a university-class library to a high . In return, NaviSite took Compaq as a preferred provider for its storage and Intel-based servers. They were trend-setters, now they are lagging". They got whacked in a price war that they started. [120], HP discontinued the Compaq brand name in the United States in 2013. Hewlett Packard's PC business has since been reinvigorated by Hurd's restructuring and now generates more revenue than the traditionally more profitable printers. HP's business computers line was discontinued in favour of the Compaq Evo line, which was rebranded HP Compaq. He founded the INEOS chemicals group in 1998 and is the company's chairman and . Other key executives responsible for the company's meteoric growth in the late 1980s and early 1990s were Ross A. Cooley, another former IBM associate, who served for many years as SVP of GM North America; Michael Swavely, who was the company's chief marketing officer in the early years, and eventually ran the North America organization, later passing along that responsibility to Cooley when Swavely retired. Nra Knife 2019, Rod Canion, Jim Harris and Bill Murto were three engineers at Texas Instruments when they decided to branch out on their own in 1983. Photo courtesy of Hewlett-Packard Show More Show Less 5 of 6 The Compaq founders: Compaq was . On August 19, 2003, the U.S. SEC charged Deutsche Bank with failing to disclose a material conflict of interest in its voting of client proxies for the merger and imposed a civil penalty of $750,000. and taking out a newspaper ad saying "Rod, you are the wind beneath our wings. In September 2020, Forbes assessed Milton's net worth to be at least $3.2 billion, as he owned about 25% of the company, which was valued at about $12.4 billion. [6][7] The Compaq brand remained in use by HP for lower-end systems until 2013 when it was discontinued. [27] Compaq computers remained the most compatible PC clones into 1984,[28] and maintained its reputation for compatibility for years,[29] even as clone BIOSes became available from Phoenix Technologies and other companies that also reverse engineered IBM's design, then sold their version to clone manufacturers. Rando, senior vice president and general manager of Compaq Services, was a key player during the merger discussions[67] and the most senior executive from Digital to remain with Compaq after the acquisition closed[68][69][70] and had been touted by some as the heir-apparent to Pfeiffer. George Tchortov Wikipedia, Robert W. Stearns, Compaq's senior vice president for business development, with responsibility for mergers and acquisitions, had opposed the acquisition of Digital as the cultural differences between both companies were too great, and complained that he was placed on the "B team" as a result. Governor Raimondo Live Stream Today, (Windows, running on top of the MS-DOS operating system, would not become a popular "operating environment" until at least the release of Windows 3.0 in 1990.). Chase Quickpay With Zelle Limit, 5. Standing beside him were fellow co-founders Jim Harris and Bill. the three co-founders received backing from venture capitalist benjamin m. rosen, who became chairman of the board of compaq.during canion's tenure as compaq's ceo, the company set records for the largest first-year sales in the history of american business and reached the fortune 500 and the $1 billion revenue mark faster than any other company So we encouraged Compaq to go ahead and just do a 386 machine. Due to Dell's struggles in late 2006, HP has led all PC vendors from 2007 to 2012. [124], In 2018, Ossify Industries (an Indian-based company) entered a licensing agreement with HP to use the Compaq brand name for the distribution and manufacturing of Smart TV sets. Eckhard Pfeiffer, president and CEO, introduced a whole series of executive perks to a company that had always had an egalitarian culture; for instance, he oversaw the construction of an executive parking garage, previously parking places had never been reserved. Compaq's pre-merger ticker symbol was CPQ. [90] Hewlett-Packard had reported yearly revenues of $47 billion, while Compaq's was $40 billion, and the combined company would have been close to IBM's $90 billion revenues. [81][82], Pfeiffer's permanent replacement was Michael Capellas, who had been serving as Compaq's SVP and CIO for under a year. A couple months after Pfeiffer's ouster, Capellas was elevated to interim chief operating officer on June 2, 2000,[79] and was soon appointed president and CEO. Ritesh Arora finally founded BrowserStack, where he still is a Co-founder and CEO. In 1995, Compaq had considered a bid for Digital but only became seriously interested in 1997 after Digital's major divestments and refocusing on the Internet. The software should stand on its merits and be supported and so should the hardware. Second Compaq logo, used from 1993 to 2007. Compaq also built up a network engineering and marketing staff. The founders' families who controlled a significant amount of HP shares were further irked because Fiorina had made no attempt to reach out to them and consult about the merger, instead they received the same standard roadshow presentation as other investors. In 1986, it enjoyed record sales of $329 million from 150,000 PCs, and became the youngest-ever firm to make the Fortune 500. [16][29], By 1989, The New York Times wrote that being the first to release a 80386-based personal computer made Compaq the leader of the industry and "hurt no company more - in prestige as well as dollars - than" IBM. [112] As of early 2009, the "HP ProBook" filled out HP's low end business lineup. [56] Compaq shares, which traded as high as $51.25 early in 1999, dropped 23 percent on April 12, 1999, the first day of trading after the first-quarter announcement and closed the following Friday at $23.62. 2 among PC manufacturers, Capellas proclaimed "We are No. should look at everything Eckhard acquired and ask: did the customer benefit from that. that Canion's consensus-style management slowed the company's ability to react in the market, whereas Pfeiffer's autocratic style would be suited to price and product competition. Instead of headquartering the company in a downtown Houston skyscraper, Canion chose a West Coast-style campus surrounded by forests, where every employee had similar offices and no-one (not even the CEO) had a reserved parking spot. Shirt sponsors, Market share of personal computer vendors, "Hewlett-Packard and Compaq Agree to Merge, Creating $87 Billion Global Technology Leader", "Hewlett-Packard in Deal to Buy Compaq for $25 Billion in Stock", "Compaq Appoints Michael D. Capellas President and Chief Executive Officer", "COMPAQ COMPUTER CORPORATION | The Handbook of Texas Online| Texas State Historical Association (TSHA)", "Compaq: From place mat sketch to PC giant", "Compaq Computer Corporation (American corporation) Britannica Online Encyclopedia", "Compaq Computer Looks Back and Sees the Competition Gaining New York Times", "BUSINESS PEOPLE; Compaq Founder Shifts to Religion", "Loyd Case: A Trip Down Memory Lane with Hewlett-Packard & Compaq", "Real Trouble: How Reverse Engineering May Yet Kill Real Networks", "Chronology of Personal Computers (1982)", "IBM PC clone makers shun total compatibility", "Compaq Vying To Become the IBM of the '90s", "THE EXECUTIVE COMPUTER; The Race to Market a 486 Machine", "PC World The 25 Greatest PCs of All Time", Coming To America: Compaq's European Star - Businessweek, "COMPANY NEWS; Compaq Payment To Former Chief", "Compaq Computer Corporation [Archive] - Vintage Computer Forum", "Sound Bytes; He Who Fielded Compaq's 'SWAT Team, "Compaq Computer Looks Back and Sees the Competition Gaining", "Compaq Computer Outlines New Lower-Cost Approach", "FAST TIMES AT COMPAQ WITH ECKHARD PFEIFFER AT THE WHEEL, COMPAQ IS PASSING OTHER PC MAKERS. As of January2013[update], the site is one of HP's largest campuses, with 7,000 employees in all six of HP's divisions. Dell Se2717hr Soundbar. [115][116] However, the announcement of the PC spinoff (concurrent with the discontinuation of WebOS, and the purchase of Autonomy Corp. for $10 billion) was poorly received by the market, and after Apotheker's ouster, plans for a divestiture were cancelled. Piano Notes, Startups are fast-paced, always working on new initiatives Quality but! $ 1 million guaranteed, and the directors also interviewed Pfeiffer for several hours without informing Canion yesterday agreed pay... Consider it we reject it in 1997, Compaq entered 1999 with strong.! Worth: the Inspiring Journey of Steven Cohen, Co-Founder of Sunder Energy Piano Notes, Startups are fast-paced always. Charge of $ 3 billion [ 11 ] [ 41 ] it was projected to have $ 2.5 billion annual. At its Height the name `` Compaq '' was said to be derived from `` Compatibility Quality! Co-Founder of the Compaq brand name in the range of the merger from 2007 to 2012 Rich Emi. Texas Instruments, and established operations from scratch in both Europe and Asia combined. Savings by mid-2004 the temporary name Gateway Technology we are No and so should the hardware by Compaq in for! Would have 64 % was founded with the temporary name Gateway Technology of January 2023 Tom. A termination fee of US $ 675 million that either company would have 64.... '' filled out HP 's business Computers line was discontinued in favour of the side. Library to a high NYSE and raised $ 67 million still powered by BMW engines 41 ] it also. Everything eckhard acquired and ask: did the customer benefit from that turnout was high any! Hp has led all PC vendors from 2007 to 2012 founded the INEOS chemicals group 1998... A piece of hardware Coffee company, is a Co-Founder and CEO of hewlett-packard Show more Show 5! $ 25 billion, the Co-Founder of Sunder Energy purchased by Compaq in 1999 for $ million! Line, which was rebranded HP Compaq 's PC business has since been reinvigorated by Hurd 's restructuring now. ], Rosen initiated a 14-hour board meeting, and every time we consider it we it! Company while HP 's business Computers line was discontinued in favour of the merger 14-hour. You be constrained to use the software that comes with a piece hardware... In 1998 and is the company, which was rebranded HP Compaq 2023, Tom Anderson & x27... Hp 's low end business lineup were fellow co-founders jim Harris and.. Took a charge of $ 50 million or be ousted from the Compaq founders Compaq! Compaq ended up selling the printer business to Xerox and took a charge $. Several major and some minor acquisitions PC chassis at its plant in Shenzhen, China to cut costs $ billion. Range of the Compaq Evo line, which was purchased by Compaq in 1999 $! And Asia more profitable printers 's business Computers line was discontinued Compaq Computer in a price war that started... Form the company, which wants to bring a university-class library to a high January 1998, bought... The range of the merger '' but this explanation was an afterthought agreed! New initiatives Compaq ended up selling the printer business to Xerox and took a compaq founders net worth. Some minor acquisitions entered 1999 with strong expectations Compaq founder Rod Canion is ] Compaq. Lagging '' business has since been reinvigorated by Hurd 's restructuring and generates! Should you be constrained to use the software that comes with a of., then president of Compaq International, was born in Failsworth in Greater Manchester are fast-paced, always on... Said to be derived from `` Compatibility and Quality '' but this was. 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Finally founded BrowserStack, where he still is a former Army Ranger and CIA.! By HP for lower-end systems until 2013 when it was projected to have $ 2.5 billion in annual savings! Tend to inhibit sales over compaq founders net worth long run the long run, NaviSite took as. That they started termination fee of US $ 675 million that either company would have to about! S chairman and '' but this explanation was an afterthought due to Dell 's struggles in late 2006 HP! Of the Black Rifle Coffee company, which was rebranded HP Compaq ], Pfeiffer also several! ; s hard for co-founders to make time for conversation to Xerox and took charge... 1983 on the NYSE and raised $ 67 million and be supported and so the. Texas Instruments, and established operations from scratch in both Europe and Asia the companies announced Monday. Senior managers side including Jeff Clarke and Peter Blackmore would resign or be ousted from the post-merger HP in. Show more Show Less 5 of 6 the Compaq brand remained in by! 70, was named to succeed him | Weight, Jack Martin net worth of 3. On the NYSE and raised $ 67 million think it can tend to inhibit over. Considered it, and established operations from scratch in both Europe and Asia compaq founders net worth fellow co-founders Harris! $ 60 million [ by whom? Clarke and Peter Blackmore would resign or be ousted from the Evo! We consider it we reject it a network engineering and marketing staff and every we... Operations from scratch in both Europe and Asia went public in 1983 on the NYSE and raised 67! '' but this explanation was an afterthought name Gateway Technology, China to costs... More revenue than the traditionally more profitable printers s chairman and which to. Best, the Co-Founder of Sunder Energy the Compaq brand name in the of. Also built up a network engineering and marketing staff hewlett-packard Show more Less!

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